All three major indexes finished the day firmly higher
Stocks extended their midday gains after the central bank kept interest rates unchanged, but still forecast two rate cuts this year. In the press conference that followed, Federal Reserve Chairman Jerome Powell highlighted economic uncertainty amid tariffs, but suggested the economy remains strong. The Dow and Nasdaq settled with healthy triple-digit gains, while the S&P 500 closed firmly in the black as well.
Continue reading for more on today's market, including:
- 3 crypto stocks to keep on your radar.
- Analyst points out headwinds for Goldman Sachs stock.
- Plus, a potential contrarian 'buy' signal; behind SIG's surge; and a sliding pharma stock.
5 Things to Know Today
- Adobe (ADBE) CFO Dan Durn said that in the future he would like “100% of Adobe’s revenue to be generative AI influenced.” (Barron's)
- Activist investor Starboard Value has a more than $500 million stake in Autodesk (ADSK), and is preparing to wage a proxy fight. (The Wall Street Journal)
- What a momentous shift in sentiment could mean for the market.
- Signet Jewelers stock pops after dividend hike.
- Potential funding cut weighs on pharma name.
Oil Prices Rise Alongside Commercial Crude Inventories
Oil prices finished higher after the U.S. reported a third-straight weekly rise in commercial crude inventories. April-dated West Texas Intermediate (WTI) crude added 26 cents, or 0.4%, to settle at $67.16 a barrel.
Gold futures hovered near all-time highs, finishing the day little changed at $3,041.20.